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SCANDINAVIAN BROADCASTING SYSTEM ANNOUNCES INITIAL PUBLIC STOCK OFFERING

 LOS ANGELES, March 10 /PRNewswire/ -- Harry Evans Sloan, chairman of the board and chief executive officer of Scandinavian Broadcasting System ("SBS") announced today that its registration statement filed with the Securities and Exchange Commission covering an initial public offering of 4 million common shares has been declared effective. The common shares of the company will be traded on the NASDAQ National Market under the symbol SBTVF. The common shares are being offered at a price of $13.50 per share. The common shares are being offered concurrently in a U.S. offering of 3,200,000 shares and an international offering of 800,000 shares, managed respectively by Prudential Securities Incorporated and Prudential-Bache Securities (U.K.) Inc.
 All of the common shares are being sold by the company and the net proceeds from the offerings will be used for repayment of indebtedness, including debt incurred in connection with the acquisition of TV Norge, and for general corporate purposes, including expansion of broadcast operations.
 Scandinavian Broadcasting System conducts television broadcasting operations in each of Norway, Sweden and Denmark, SBS owns and operate TV Norge in Norway, Kanal 2 in Denmark and TV5 Nordic in Sweden.
 Copies of the prospectus relating to the offering may be obtained from Prudential Securities Incorporated (Prospectus Department) at 315 Hudson Street, New York, NY 10013.
 This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration and qualification under the securities of any such state.
 -0- 3/10/93
 /CONTACT: Harry Evans Sloan, chairman and chief executive officer of Scandinavian Broadcasting Systems, 310-445-1310, or Edmund Belak of Georgeson & Company, 212-440-9801, for Scandinavian Broadcasting/


CO: Scandinavian Broadcasting Systems ST: California IN: ENT SU: OFR

LR-OS -- NY013 -- 4828 03/10/93 09:23 EST
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Publication:PR Newswire
Date:Mar 10, 1993
Words:317
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